The stock of Revance Therapeutics Inc (NASDAQ:RVNC) hit a new 52-week low and has $12.33 target or 10.00% below today’s $13.70 share price. The 7 months bearish chart indicates high risk for the $376.26 million company. The 1-year low was reported on Nov, 4 by Barchart.com. If the $12.33 price target is reached, the company will be worth $37.63M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 106,532 shares traded hands. Revance Therapeutics Inc (NASDAQ:RVNC) has declined 32.38% since April 4, 2016 and is downtrending. It has underperformed by 33.47% the S&P500.
Analysts await Revance Therapeutics Inc (NASDAQ:RVNC) to report earnings on November, 14. They expect $-0.90 EPS, down 11.11% or $0.09 from last year’s $-0.81 per share. After $-0.88 actual EPS reported by Revance Therapeutics Inc for the previous quarter, Wall Street now forecasts 2.27% negative EPS growth.
Revance Therapeutics Inc (NASDAQ:RVNC) Ratings Coverage
Out of 4 analysts covering Revance Therapeutics (NASDAQ:RVNC), 3 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 75% are positive. Revance Therapeutics has been the topic of 5 analyst reports since August 22, 2015 according to StockzIntelligence Inc. The company was initiated on Wednesday, March 23 by SunTrust. As per Monday, November 23, the company rating was initiated by Guggenheim. The rating was maintained by Suntrust Robinson with “Buy” on Tuesday, June 14. As per Tuesday, June 14, the company rating was downgraded by Brean Capital. On Saturday, August 22 the stock rating was downgraded by Zacks to “Hold”.
According to Zacks Investment Research, “Revance is a Silicon Valley-based biotechnology company. The company is developing a portfolio of products for aesthetic medicine and underserved therapeutic specialties, including dermatology and neurology. Revance’s science is based upon a proprietary TransMTSÂ® peptide technology, which when combined with active drug molecules, may help address current unmet needs. Revance’s initial focus is on developing daxibotulinumtoxinA, the company’s highly purified botulinum toxin, for a broad spectrum of aesthetic and therapeutic indications, including facial wrinkles and muscle movement disorders. The company’s lead drug candidate, DaxibotulinumtoxinA for Injection (RT002), is currently in development for the treatment of glabellar lines and cervical dystonia and has the potential to be the first long-acting neurotoxin. The company holds worldwide rights for all indications of RT002 injectable and RT001 topical and the pharmaceutical uses of the TransMTS technology platform.”
Insitutional Activity: The institutional sentiment increased to 1.39 in 2016 Q2. Its up 0.32, from 1.07 in 2016Q1. The ratio increased, as 15 funds sold all Revance Therapeutics Inc shares owned while 16 reduced positions. 9 funds bought stakes while 34 increased positions. They now own 28.60 million shares or 5.50% more from 27.11 million shares in 2016Q1.
Blackrock accumulated 1,893 shares or 0% of the stock. Manufacturers Life The last reported 0% of its portfolio in the stock. Polar Limited Liability Partnership has 0.3% invested in the company for 1.17M shares. Blackrock Grp Limited has invested 0% of its portfolio in Revance Therapeutics Inc (NASDAQ:RVNC). Deutsche Comml Bank Ag holds 0% or 22,184 shares in its portfolio. The Massachusetts-based State Street has invested 0% in Revance Therapeutics Inc (NASDAQ:RVNC). Royal National Bank Of Canada holds 0% of its portfolio in Revance Therapeutics Inc (NASDAQ:RVNC) for 19,228 shares. United Automobile Association last reported 33,761 shares in the company. Waddell Reed accumulated 0.01% or 300,000 shares. Alps Advisors has invested 0% of its portfolio in Revance Therapeutics Inc (NASDAQ:RVNC). Drill Craig A reported 65,600 shares or 1.76% of all its holdings. Geode Capital Management Ltd Liability Corp has invested 0% of its portfolio in Revance Therapeutics Inc (NASDAQ:RVNC). Savings Bank Of New York Mellon owns 2.12 million shares or 0.01% of their US portfolio. Moreover, Metropolitan Life Ny has 0% invested in Revance Therapeutics Inc (NASDAQ:RVNC) for 13,299 shares. Moreover, Schwab Charles Investment Mngmt Incorporated has 0% invested in Revance Therapeutics Inc (NASDAQ:RVNC) for 66,263 shares.
Insider Transactions: Since May 9, 2016, the stock had 0 insider buys, and 3 sales for $212,629 net activity. Ruegg Curtis sold $16,180 worth of stock. Browne L Daniel had sold 12,000 shares worth $178,199.
Another recent and important Revance Therapeutics Inc (NASDAQ:RVNC) news was published by Fool.com which published an article titled: “Why Revance Therapeutics Is Crashing 23% Today” on June 14, 2016.
RVNC Company Profile
Revance Therapeutics, Inc., incorporated on August 10, 1999, is a biotechnology company. The Firm is focused on the development, manufacturing and commercialization of botulinum toxin products for multiple aesthetic and therapeutic indications. The Company’s TransMTS technology enables delivery of botulinum toxin type A through approximately two investigational drug product candidates, DaxibotulinumtoxinA Topical Gel (RT001), or RT001 topical, and DaxibotulinumtoxinA for Injection (RT002), or RT002 injectable. The Company’s botulinum toxin-peptide complex has over two components that contribute to the performance of RT001 and RT002. First, its TransMTS peptide provides the delivery across the skin and restricts the toxin molecule to the target site. Second, the botulinum toxin type A provides the mechanism of pharmacologic action and is responsible for the drug effects demonstrated in its clinical trials.
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